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Reported by Will Jackson, ninemsn

Monday, May 21, 2012

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US baseball great Babe Ruth's earliest known jersey has sold for $4.42 million — the highest price ever paid at auction for a piece of sports memorabilla.

Ruth's Yankees jersey from the 1920s was put on sale as part of an internet auction by SCP Auctions, the NY Daily News reports.

The price eclipsed the previous record set when James Naismith's founding rules of basketball were sold for $4,338,500 in 2010.

There were 36 bids on the jersey after it opened for offers on April 30.

"We are honored to, once again, be a part of history," said SCP Auctions president David Kohler.

"This proves again that Babe Ruth is 'king' in the sports memorabilia world."

The winning bidder has not been identified.

A Yankees cap also owned by Ruth sold at the auction for $537,278

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